Bond issue on the market that matures

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Acme Corporation has a bond issue on the market that matures in 16 years, each bond has a $1,000.00 par value and pays an annual coupon. The bonds currently sell for a price of $1,233 each. If the market rate (yield to maturity) on this issue is 7% what is the coupon payment? State your answer in dollars and cents. The dollar sign is not necessary.

Reference no: EM131068828

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